Chipotle price target raised to $64 from $63 at Truist

Truist analyst Jake Bartlett raised the firm’s price target on Chipotle (CMG) to $64 from $63 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results for Limited Service Restaurants, or LSR. Truist believes that improving recent results should give investors greater confidence in Chipotle’s consumer value proposition as sales growth appears to have accelerated throughout Q2, with particular strength following the ‘Adobo Ranch’ launch on June 17, the analyst tells investors in a research note.